| |
| |
Currency - Wikipedia, the free encyclopedia |
 | | Gold coins were used for large purchases, payment of the military and backing of state activities. |
 | | The solution which evolved beginning in the late 18th century and through the 19th century was the creation of a central monetary authority which had a virtual monopoly on issuing currency, and whose notes had to be accepted for "all debts public and private". |
 | | The creation of a truly national currency, backed by the government's store of precious metals, and enforced by their military and governmental control over an area was, in its time, extremely controversial. |
| en.wikipedia.org /wiki/Currency (2154 words) |
|